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Boston Scientific (BSX) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest close session, Boston Scientific (BSX - Free Report) was up +1.05% at $102.36. The stock exceeded the S&P 500, which registered a gain of 0.96% for the day. At the same time, the Dow added 0.89%, and the tech-heavy Nasdaq gained 0.94%.
The medical device manufacturer's stock has dropped by 3.06% in the past month, falling short of the Medical sector's loss of 0.85% and the S&P 500's gain of 0.5%.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. The company is expected to report EPS of $0.72, up 16.13% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $4.89 billion, indicating a 18.69% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.91 per share and a revenue of $19.5 billion, representing changes of +15.94% and +16.42%, respectively, from the prior year.
Any recent changes to analyst estimates for Boston Scientific should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% upward. Right now, Boston Scientific possesses a Zacks Rank of #3 (Hold).
Investors should also note Boston Scientific's current valuation metrics, including its Forward P/E ratio of 34.75. This signifies a premium in comparison to the average Forward P/E of 18.05 for its industry.
It is also worth noting that BSX currently has a PEG ratio of 2.62. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Medical - Products industry held an average PEG ratio of 2.24.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Boston Scientific (BSX) Surpasses Market Returns: Some Facts Worth Knowing
In the latest close session, Boston Scientific (BSX - Free Report) was up +1.05% at $102.36. The stock exceeded the S&P 500, which registered a gain of 0.96% for the day. At the same time, the Dow added 0.89%, and the tech-heavy Nasdaq gained 0.94%.
The medical device manufacturer's stock has dropped by 3.06% in the past month, falling short of the Medical sector's loss of 0.85% and the S&P 500's gain of 0.5%.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. The company is expected to report EPS of $0.72, up 16.13% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $4.89 billion, indicating a 18.69% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.91 per share and a revenue of $19.5 billion, representing changes of +15.94% and +16.42%, respectively, from the prior year.
Any recent changes to analyst estimates for Boston Scientific should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% upward. Right now, Boston Scientific possesses a Zacks Rank of #3 (Hold).
Investors should also note Boston Scientific's current valuation metrics, including its Forward P/E ratio of 34.75. This signifies a premium in comparison to the average Forward P/E of 18.05 for its industry.
It is also worth noting that BSX currently has a PEG ratio of 2.62. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Medical - Products industry held an average PEG ratio of 2.24.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.